Tips And Guide For Debt And Loan Management

Probably the worst possible thing that could happen to your case is to have your discharge denied, because the entire point of this exercise is to get the discharge. With a dismissal, you can normally file your case again fairly quickly. A denial of discharge is different. It means you had your chance, and you blew it; you don’t have a chance to wipe out your debts with a bankruptcy for at least six years. A discharge can be denied for any of the following reasons:

• Intentional concealment, transfer, or destruction of property. The most common reason, this occurs when a debtor knowingly hides or sells nonexempt assets.
• Dishonesty in connection with the bankruptcy case. People who commit perjury (either in their paperwork or at their hearing), who conceal or destroy important financial documents, or who withhold records, can be denied a discharge.
• Receipt of a discharge in the preceding six years. You can file bankruptcy only every six years. If you received a discharge within the last six years, another one will be denied. Denial of a discharge is a radical remedy used in only the most egregious of cases. Be honest, and all should go well.